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Infusionsoft Adds $7.9 Million in Series B Financing to Fuel Continued Growth
New Investor vSpring Leads Round; Infusionsoft Sees Ripe Opportunity to Help Entrepreneurs Succeed by Automating Marketing
| Source: Infusionsoft
GILBERT, AZ--(Marketwire - December 19, 2008) - Infusionsoft, the leader in marketing automation software
for small businesses, today announced the completion of its series B round
of venture financing, totaling $7.9 million. The round was led by new
investor vSpring of Salt Lake City,
Utah and included previous investor Mohr
Davidow Ventures in Silicon Valley. Infusionsoft will use the new
financing to expand sales and marketing efforts in 2009 as it builds on its
recent growth.
Infusionsoft's second round of funding caps a year filled with recognition
for the company's fast growth in revenues and customers as well as honors
for excellent work environment. The company has experienced 1,128-percent
revenue growth from 2004 to 2007 and the number of small businesses using
Infusionsoft's Web-based marketing automation software has tripled in the
last two years alone. Infusionsoft was included on Inc. Magazine's Inc. 500 list of fastest growing private
companies in both 2007 and 2008 and was ranked in the top ten in its
category in the 2008 Software 500 rankings by Software Magazine. The
Phoenix Business Journal ranked Infusionsoft fourth out of all midsize
companies in the Phoenix Valley on its list of "Best Places to Work" for
2008, making this its third consecutive year on the rankings.
Infusionsoft provides automated follow-up marketing software for
entrepreneurs and small businesses with a staff of 25 or less who need a
solution to the common problems of unconverted leads, no repeat sales from
customers, and having to add more staff in order to get things done. Unlike
other software for "SMBs," Infusionsoft's Web-powered, automated follow-up
software was built specifically for true small businesses and entrepreneurs
who want to grow quickly and profitably without adding extensive sales and
marketing staff. The Infusionsoft Software-as-a-Service (SaaS) delivery
model allows Infusionsoft users to enjoy quick implementation, increased
security, increased productivity and price stability as well as regular
updates without requiring any external maintenance.
"When we started Infusionsoft, we realized that there was no solution
geared towards helping the true small business succeed without adding a lot
of overhead," said Clate Mask, CEO of Infusionsoft. "The new financing from
vSpring demonstrates both the success we've had to date in building a
strong software company and our potential to quickly become a recognized
market leader. I am especially proud of raising capital despite the
negativity that is so pervasive in this economic climate -- it's a
testament to our investors' confidence in our business and the power of the
entrepreneurial mindset. In 2009, Infusionsoft will be dedicated to
liberating and empowering every growth-oriented entrepreneur and small
business that can benefit from automation and always-on marketing."
"Infusionsoft's impressive momentum and fiercely loyal customer base
clearly shows that their product is adding significant value to small
businesses across the country, changing the way small businesses grow,"
said Scott Petty, managing director at vSpring. "Infusionsoft's Web-based
software helps companies grow their sales without having to hire costly
staff, a significant value to small businesses in this economic climate.
While other software sectors could see a lag in 2009, we anticipate a
strong opportunity for Infusionsoft to continue to gain market share as
they help entrepreneurs convert customers and build revenue."
About Infusionsoft
Infusionsoft, the leader in marketing automation software for small
businesses, is revolutionizing the way small businesses grow. There are
twenty-five million small businesses in America that need an easy-to-use,
affordable, and powerful software solution that increases sales while
freeing up their time. The company's follow-up marketing software addresses
that need by helping small businesses automatically convert more prospects
to customers, get repeat sales, and grow their business without growing
staff. The privately-held, Inc. 500 company, based in Gilbert, Arizona is
funded by Mohr Davidow Ventures and vSpring Capital. For more information,
visit www.infusionsoft.com.